TSM

TSMC

Foundries·Taiwan·Hsinchu·#1 / 5 in segment·49.8% of segment mcap

$401.62

82.3% vs S&P 12m

Business overview

AI capex leverage AI infrastructure exposure Direct AI revenue

Dominant pure-play foundry with sole leadership in advanced logic nodes and CoWoS packaging used by every major AI accelerator.

The chokepoint of the AI economy. TSMC's N3/N2/A16 roadmap and CoWoS slot allocation set the speed limit on global AI compute supply.

Products

N7/N5/N3/N2 logic
CoWoS / SoIC packaging
InFO

Customers (5)

Competitors (2)

Composite score

Higher = stronger overall research case

Fundamental77

Technical85

Valuation79

AI relevance92

Risk-adjusted (higher = safer)46

Segment-relative fundamental percentile: 100

Synthetic 1Y price action

Deterministic price series; 50d (yellow) and 200d (orange) MAs shown

3M RS: 3.1%6M RS: 31.1%12M RS: 82.3%Vol30d: 39%DD52w: -4.3%

Financial summary

Curated, illustrative

Revenue

$127.22B

Growth (YoY)

35.1%

Gross margin

61.9%

Operating margin

58.1%

FCF

$22.29B

Capex

$50.51B

Net cash / (debt)

$70.97B

ROIC

17.3%

Customer conc.

Medium

Valuation

Market cap

$2.08T

Enterprise value

$2.01T

P/E (TTM)

34.5x

Forward P/E

20.6x

EV / Sales

15.8x

EV / EBITDA

22.7x

P / FCF

93.4x

PEG

1.3x

Rule of 40

—

Risks

Severity 1 (low) to 5 (severe)

5
Taiwan geopolitical risk
3
Customer concentration on NVIDIA + Apple
3
Capex absorption / yield ramp at A16

Score components

What drove the composite

Growth91

Profitability99

Cash generation67

Balance sheet91

Moat / AI relevance88

Capital intensity (higher = lighter)21

Customer diversification60

Valuation discipline (dilution)65

Trend (MA50/MA200)95

Momentum (3/6/12m)74

Relative strength100

Realized vol (higher = lower vol)54

Segment peers

Other companies in Foundries